Westmount Energy Share Discussion Threads

[papillon] 18/7/2006 16:44

Doesnt look good for WTE tomorrow. SEY share price collapsed by 13% just before close.

[whackford] 10/7/2006 11:46

BLT - agreed & have accordingly purchased some this AM. However, I note that CDS (the South American ) venture is not going well, as indicated by this extract from their Annual Report:

24 Going concern
The Group currently has insufficient funds available to meet its expenditure projections.
Accordingly the Group needs to raise further funds to continue in operational existence.
Based on indications received from potential investors and interest expressed by other oil
and gas companies in the possibility of joint venturing with the Group in its oil and gas
properties, the directors are confident that sufficient funds will become available to the
Group.
These conditions indicate the existence of a material uncertainty which may cast significant
doubt about the Group's ability to continue as a going concern.


Finally, has anybody heard anything more about Eclipse? About time something was annouced, methinks.

[bitterlemontart] 10/7/2006 09:40

Not at all suprised....WTE are now very cheap and very undervalued....reckon that this must be a STRONG BUYING opportunity in my view!

[papillon] 10/7/2006 09:14

up 5p this morning.

[cwa1] 23/6/2006 16:13

Pleased to see they have fessed up to their goof. Pretty big one though :-( All they needed to do was ask here or on TMF or similar and someone would have saved them from a huge level of embarrassment.

[zingaro] 23/6/2006 13:56

Thanks CWA1.
The new Investor Chronicle of 23 June (I scanned but did not buy) has issued a correction to its AIM Tax Free article. They screwed up in a major way on their 2nd listing list. They will produce a new list on their website.

[cwa1] 19/6/2006 16:52

IMVHO Westmount will NOT qualify for busines property relief in respect of IHT. NOT because of the dual listing situation mentioned in the chronic, I think they are WRONG about that personally, but because of the nature of the company and the fact that it is a holding company for other stocks rather than being a "proper" trading company. This is the thing that would disallow it in my view. NB this is only my own personal view and should not be relied upon for any investment based decisions.

[zingaro] 19/6/2006 16:30

Did anybody read the Investor Chronicle article on Tax and AIM companies ? I thought WTE would be Inheritance Tax exempt but IC lists it as having a dual listing and thus not eligible for IHT and CGT relief.

Any thoughts ? Where are WTE officially listed aside from AIM ?

By the way there was an article on WTE (nothing new I think) in the north west evening mail on the 5th. Here is the link

[cwa1] 19/6/2006 16:20

WESTMOUNT ENERGY LIMITED


Purchase of Own Shares

Westmount Energy announces that on 15th June 2006 it purchased 17,000 of its 20p ordinary shares at a price of 121 pence per share and on the 16 June 2006 it purchased 6,250 of its 20p ordinary shares at 120 pence per share. The total of 23,250 20p ordinary shares are held in treasury and it is intended that they will be cancelled in due course.

Westmount Energy Limited has a total of 7,483,430 20p Ordinary Shares in issue (excluding these 23,250 treasury shares).

[papillon] 15/6/2006 12:07

SEY up 2p. WTE ticking up.

[cwa1] 23/5/2006 12:37

Seem to be off on one again :-) I assume that there is as much news on the way up as there was on the way down, ie nada :-/

Unless of course Mick is finally going to issue his RNS for a major holding ;-)

[zingaro] 22/5/2006 11:29

diluted with options @103.5 seems to imply a valuation of 132p per share with Eclipse at zero value, Desire at 38p, Sterling at 25p and the convertible at 500,000.

[persian tata] 22/5/2006 11:00

Westmount Energy Limited ("Westmount") is a Jersey based AIM quoted Energy
Investment Company. Its present investments include, 30,000,000 shares of AIM
quoted Sterling Energy plc, 5,500,000 shares of AIM quoted Desire Petroleum plc,
a #500,000 convertible loan of AIM quoted CDS Oil & Gas Group plc and 244,000
shares of presently unquoted Eclipse Energy Company Limited. Westmount has no
borrowings.

[orlaorlaorla] 17/5/2006 13:01

Share price is as we say in Espania....los locos!

Very Strong Buy!

[pugugly] 17/5/2006 08:46

just checked the figures - Market cap approx value of Sterling and Desire stakes. Advfn fundamentals appear wrong However in the nature of an illiquid investment trust should be a a discount to underlying assets so imo price aout right possibly a bit high . (imo & dyor)

[cwa1] 17/5/2006 08:36

Seemed a genuine fire sale this AM. Rude not to pick up a few. Gulp.

[pugugly] 17/5/2006 08:36

Remember however that botyh Sterling and Desire have taken heavy falls in the last 7 days. Could just be playing catch up. Still have to run the figures.

[mickinvest] 17/5/2006 08:34

Looking at my spreadsheet, the drop in value for WTE when SEY was north of 32p and DES 46p is about £1.6m

The drop from £1.62 to £1.275 in the WTE share price knocks £2.6m off so just a tad overdone I'd say!

Mick

[bomfin] 17/5/2006 08:33

Mick, I think you'll be very happy with that 5k. Hope so anyway.

[bomfin] 17/5/2006 08:31

Cor Blimey.

Just added a few. Having top sliced at 161p.

[mickinvest] 17/5/2006 08:30

wow, managed to get 5k at just under £1.27 !!

[papillon] 17/5/2006 08:26

wow, what a drop!

[bomfin] 11/5/2006 11:59

What value eclipse?

Potential value of the electricity produced by the gas.

80megawatt x 8years x 24hours x 365days x 50 quid/megawatthour

= £280 million

Stuff the windfarm WTE's share of the gas could be worth £2/share.:-)

imho dyor

[bionicdog] 11/5/2006 09:34

We will soon be back to the value of our holdings before that unwanted handout a few months back at this rate. An above post reminded me of the wodge that GRWA now SCRB presumably still hold.